Beijing Auto fears bankruptcy as losses mount

Beijing Auto & Motor Cycle Mfg. Plant, one of the city's oldest automobile plants, could be facing bankruptcy after five years of losses and may sell prime land in the city to pay off its debts, a Chinese newspaper reports. The state-owned firm was set up in 1958 to produce the city's first cars, motorcycles and military vehicles. To date, the automaker's workforce has shrunk from 12,000 workers to 5,000.
Beijing Auto also has a joint venture with DaimlerChrysler, called Beijing Jeep ...

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